House endorses measure to loan Colstrip owner $10M per year

By The Associated Press

The Montana House has endorsed a bill that would allow the state Board of Investments to loan Talen Energy to $10 million a year to keep two units of the Colstrip power plant running for the next five years.

 

HELENA, Mont. (AP) — The Montana House has endorsed a bill that would allow the state Board of Investments to loan Talen Energy to $10 million a year to keep two units of the Colstrip power plant running for the next five years.

The bill by House Speaker Austin Knudsen passed a 65-34 initial vote on Friday. It must pass a final vote before it goes to the Senate for consideration.

The Culbertson Republican says Talen is losing about $30 million a year on Colstrip because it can't pass on its costs to customers, as regulated utilities can.

The two older units of the plant are scheduled to close by July 2022. Talen representatives have said the closure could come as soon as this year if it the company can't make the economics work.

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